#1 Over-pricing...
A lot of sellers believe it's wise to leave some wiggle room. The problem is that if you price it too high you will have a lot less viewers. Many sellers think that if a buyer is interested they will just make an offer no matter what the asking price is... not true. Will some buyers think that way? Yes, but most will not. You have to appeal to the masses. It's all about exposure! When a seller over-prices their home it stays on the market longer because many of the buyers that were ready to buy didn't even see it because they felt it was not in their price range. Inevitably the seller does eventually decide to reduce their price but oops... the market has dropped by a few percentage points. What happens is that the seller ends up "chasing the market" downward. They're always pricing their home just a little higher than market value. In the end, they are forced to get "in front of the market" and at a loss. If they would have priced it properly to begin with they would have ended up with a higher sale price. And guess who gets the blame? Yup, the author of this little message :o) Furthermore, the seller decides they are better off with another Realtor® and they end up finally pricing it properly and the newly hired Realtor® sells it and becomes the star. This totally cracks me up and honestly and truly it happens all the time.
#2 Hiring the wrong Realtor®...
It's extremely important that you select the Realtor® that is best for you. All real estate agents have access to the same information and use the MLS system which is the #1 way that homes are bought and sold. This definitely doesn't mean that all Realtors® are the same. Many realtors are great at marketing themselves but that certainly does not mean they will be the best realtor to use. Choose a local real estate agent who is very familiar with the area you live in. A realtor who is familiar with the area will be able to give potential purchasers lots of helpful tips that you wouldn't get from someone who doesn't know the area that well. Don't hire an out of town Realtor® because they will not be able to give you the service you deserve. Make sure that the Realtor's® primary concern is taking care of YOUR best interests. If they are asking you a lot of questions and listening intently to your responses rather than just talking about themselves you may have found yourself a good realtor. If you want to make your selling experience the best it can be it's crucial that you select the best agent for you.
#3 Not cleaning house...
It is imperative that you spend the time (and possibly $) to make sure your home looks, smells & feels it's very best. Your home is worth hundreds of thousands of dollars. It's not worth it to risk losing a sale simply because you didn't think it necessary to clean up or get rid of that doggy smell. Purchases are made based on the way people feel. If they walk into your home and have to turn sideways to get around all the clutter or step over a pile of dirty laundry it can be a real turn off. Take the time to de-clutter, clean the windows and sills, get rid of any cobwebs, dust, all the fridge magnets, etc. Clean up the yard and do a little touch up painting so that things look fresh and well taken care of. I would also strongly suggest that you box up all the "stuff" in the home that makes it yours. If you are trying to sell it you want people to be able to imagine their "stuff" in the home. Everything in the home should be as neutral as possible.
#4 Refusing to leave during showings...
Buyers need to have the freedom to walk though your home without feeling like they are being watched or that they have to whisper when they have something to say or ask. In fact, I have had buyers decide not to look at homes because the seller was going to be there. I guess it's kind of like going into a commissions based furniture store where you are sure to be asked several times by several different employees if they can help you with anything. You say something like "No, I'm just looking thanks." A few minutes later you turn to your left and see a sales person smiling at you and pretending to fluff pillows. You get the picture?
#5 Playing hardball with your 1st offer...
You've probably heard this before but it's worth repeating. Your first offer is almost always your best offer. Quite often when sellers get an offer in the early stages they try to hold firm to their price (even if it is over-priced). They tend to feel as though they are in the driver's seat. If you aren't reasonable with your first offer your home will likely sit on the market for quite some time and you'll end up with less in your pocket as a result and go through the daunting process of several showings to boot! There's some real value in being able to sell your home quickly and at a reasonable price. Ultimately, you get to decide what you want to do, but hopefully you’ve hired your Realtor® because you value their expert opinion and you trust that they are looking out for YOUR best interests.
